Conductive Inks Market to Grow at a CAGR of 3.8% during the Forecast Period: TMR Study
Silver conductive inks are widely used in energy, pharmaceutical, and consumer electronics sectors due to its chemical makeup, which is anticipated to boost the global market
Wilmington, Delaware, United States, Jan. 27, 2023 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – The global conductive inks market size was more than US$ 3.6 Bn in 2021 and is projected to cross value of US$ 9.2 Bn by 2031. Market forecast estimates the global industry to grow at a CAGR of 3.8% between 2022 and 2031. Increase in use of conductive inks is attributed to expansion of the electronics sector. RFID tags are printed using conductive inks and are utilized in existing transit tickets. Printable conductive inks are utilized for manufacturing electronics. Use of conductive inks is on the rise as they help improve the quantity and quality of electronics.
Electronic components with low cost and high quality need manufacturing processes that are affordable and more efficient than traditional manufacturing processes. Therefore, companies are likely to invest more in research and development activities to develop better conducting ink materials that can be utilized as substitutes for silver conducting inks used in medical electronics and electronics sector. According to market forecast, reliability of electrodes and medical biosensors is likely to present market players with an opportunity to diversify their revenue sources in the global conductive inks market.
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Key Findings of Market Report
- Use in conductive ink is expected to be one of the most promising uses of graphene. It has taken a significant amount of effort to develop graphene-enhanced graphene conductive inks for their numerous uses in flexible electronics’ circuits and parts. Contrary to silver and copper-based conductive inks, graphene-enhanced inks are usually far less expensive. Demand for compact, lightweight devices in the consumer electronics and semiconductor sectors is driving up the use of printed electronics conductive inks, which is anticipated to propel the global conductive inks market.
- Given the increase in use of consumer electronics across the globe, the displays segment accounted for a market share of 20% in 2021 in terms of application. One of the information inputs for an electronic display is electric signal. The use of conductive inks in display panels is increasing. These include cell phones, laptops, wearable technology, televisions, computers, smart devices, and medical monitoring.
- Surge in utilization of printed circuit boards, sensors, antennas, touch switches, circuits, biosensors, printed heaters, and touchscreens in a range of industries is expected to propel the global conductive inks market. These inks are utilized as substitutes for standard wire and circuit designs to improve efficiency and decrease weight of electrical parts. Consequently, they are frequently used in printed electronics applications.
- In the market segmentation based on type, the silver conductive inks segment dominated in 2021, accounting for over 27% share. Silver conductive inks are widely employed in the consumer electronics, medical, and energy sectors.
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Global Conductive Inks Market: Growth Drivers
- Use of printed electronics conductive inks is increasing due to growth in preference for compact devices in consumer electronics and semiconductor industries. These factors are anticipated to drive business opportunities in the global market during the forecast period.
Global Conductive Inks Market: Regional Landscape
- In 2021, Asia Pacific held around 47% share of the global industry. The market for conductive inks in Asia Pacific is driven by the rise in usage of conductive inks in solar cells. Higher demand for advanced consumer electrical products and increase in utilization of silver conductive inks driving industry growth in the Asia Pacific region.
Global Conductive Inks Market: Key Players
Some of the key market players are
- Intrinsiq Materials, Inc.
- Heraeus Holding GmbH
- Sun Chemical Corporation
- Creative Materials Inc.
- Johnson Matthey PLC
- DuPont de Nemours, Inc.
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Global Conductive Inks Market: Segmentation
- Silver Conductive Inks
- Copper Conductive Inks
- Conductive Polymers
- Conductive Nanotube Inks
- Graphene/Carbon Inks
- Photovoltaic Cells
- RFID (Radio Frequency Identification)
- Printed Circuit Boards
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
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